Ukraine produced 4.25 million tons of rolled steel in January-August

In January-August 2025, Ukrainian steel enterprises reduced their production of commercial rolled steel by 1.4% compared to the same period in 2024, to 4.25 million tons. This is evidenced by data from Ukrmetprom.

Pig iron smelting increased by 8% y/y – to 5.11 million tons, while steel production fell by 6.8% y/y – to 4.91 million tons.

In August of this year, rolled steel production increased by 14.7% compared to the previous month and by 7.4% compared to August 2024, to 633,200 tons. Pig iron smelting increased by 8% month-on-month and 16.1% month-on-month to 747.5 thousand tons, while steel smelting fell by 6% year-on-year and increased by 11.9% month-on-month to 649.4 thousand tons.

As reported by GMK Center, in 2024, Ukraine’s steel industry increased rolled steel production by 15.8% compared to 2023, from 5.37 million tons to 6.22 million tons. Last year, pig iron production increased by 18.1% y/y, from 6 million tons to 7.09 million tons, and steel production increased by 21.6% y/y, from 6.23 million tons to 7.58 million tons.

The industry’s results in 2024 turned out to be much better than expected. At the same time, according to GMK Center analysts’ forecasts, 2025 will be difficult as the global steel market is going through a crisis period. Steel exports from Ukraine are likely to decline, the price situation will worsen, and import restrictions will tighten around the world.